Zenith Bank Emerges Best Bank in Nigeria

By Modupe Gbadeyanka The Head of Partnerships at Stanbic IBTC Bank Limited, Ms Omolara Osunsoko, has posited that any economy that intends to flourish must do everything possible to support business owners, especially those in the Small and Medium Enterprises (SMEs) sector. The banker said this at a webinar organised to inform participants of a seamless payment experience for business owners through the enhanced Enterprise Online (EOL) payment platform. At the event themed Simplifying Payments for Businesses, the company unveiled EOL 2.0, an upgraded solution created to facilitate a smooth payment experience and improve human resources (HR) services for business

By Aduragbemi Omiyale The banking subsidiary of Stanbic IBTC Holdings Plc, Stanbic IBTC Bank Plc, has been re-registered with the Corporate Affairs Commission (CAC) as a private firm. A statement from the parent organisation disclosed that the conversion was done as a result of brand confusion among investors and members of the public. It was stated that some investors confuse the parent company with the banking business and to clear the confusion, the banking arm of the firm has been changed to a private limited liability company from a public liability entity. Stanbic IBTC said it has obtained regulatory approvals

By Adedapo Adesanya One of Africa’s biggest financial institutions, Access Bank, is close to finalizing a regulatory process to launch its first full banking service in Asia in the first quarter of 2024. This was disclosed by the chief executive of its holding company, Mr Herbert Wigwe, on the sidelines of the Africa Financial Industry Summit in Lomé, Togo, as per Semafor. The Nigerian lender’s plan to enter the Asian market is part of a wider global expansion target which includes a strategy to expand more deeply into Francophone Africa, build closer ties with North Africa, and across Europe where

By Modupe Gbadeyanka A total of N7 million has been won by 70 customers of Stanbic IBTC Bank Limited in season three of the lender’s Reward4Saving promo. The winners were given N100,000 each in the October draw held recently, with their corresponding cheques presented to them on Friday, November 10, 2023, at the headquarters of the company in Lagos. The third season of the promo started in September 2023 and 140 people have been rewarded so far with N100,000 each. There are 10 draws left until the end of season three and 700 new and existing customers from our seven

By Adedapo Adesanya Some universities and other higher education institutions in the country will come under scrutiny following their inaction regarding contracts executions, the Tertiary Execution Trust Fund (TETFund) has said. According to the Executive Secretary of TETFund, Prof. Suleiman Bogoro, the fund will roll out punitive measures, including outright stoppage of intervention activities in affected institutions. Speaking recently in Abuja, he said a financial and forensic audit on the intervention activities of the fund for the past 20 years have been carried out in order to pinpoint the anomaly. Business Post had earlier reported that the fund had retrieved

Dipo Olowookere The naira is expected to make a surprise recovery from today as Travelex, a global foreign exchange (forex) dealer, begins the sale of $15,000 weekly to each of the 3,000 Bureaux De Change (BDC) operators. Association of Bureau De Change Operators of Nigeria (ABCON) President Aminu Gwadabe, who broke the news yesterday, said $45 million will flow into the financial system with each of the BDCs getting $15,000. The exercise, he said, would strengthen the naira in both the official and parallel markets. The naira was yesterday exchanging at N473 to dollar in the parallel market and N310

By Dipo Olowookere African focused investment firm Quantum Global Group were announced as the winners of the Global Banking and Finance Review award for Best Investment Company Angola 2016. The award, which recognises excellence globally within the financial community, operates a strict assessment criterion measuring investment strategies, first-class client-advisor relations through active management and comprehensive services as well as developmental change. Quantum Global’s Deputy Advisory Board Chairman Dr. Thomas Ladner said: “We are honoured to be recognised as the Best Investment Company Angola 2016. Our investments generate value added returns for our clients and winning this award is a testament

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed lower by 0.21 per cent on Thursday, November 17, triggered by the loss printed by FrieslandCampina WAMCO Nigeria Plc. The share price of the milk-producing company went down by N1 or 1.5 per cent to close at N67.00 per unit, in contrast to N68.00 per unit it closed in the previous session. Business Post reports that the loss reduced the market capitalisation of the NASD OTC bourse by N1.92 billion to N935.07 billion from the previous day’s N936.99 billion, as the NASD Unlisted Securities Index (NSI) decreased by 1.47 points

By Adedapo Adesanya The Nigerian National Petroleum Corporation (NNPC) has explained why the four refineries in the country are not producing petroleum products as expected. The state-owned oil firm said for almost a year the facilities located in Warri (1), Port Harcourt (2) and Kaduna (1) have not refined a single drop of product. The reason for this, according to the NNPC in a report, is because of  ongoing rehabilitation on the facilities. From June 2019 till January 2020, no drop of petrol or kerosene was produced by the refineries, as they recorded zero all through the eight-month period. “No

By Modupe Gbadeyanka A deal to allow Volkswagen develop an automotive hub in Nigeria has been signed between the automaker and the federal government. The Memorandum of Understanding (MoU) was sealed last week by both parties involved in the agreement. A statement issued from Volkswagen said it signed the contract because it identified Nigeria as a country with significant potential for the growth in the new vehicle market. With the agreement, the Nigerian government and Volkswagen Group South Africa (VWSA) will come up with a joint vision to secure the development of Nigeria as an automotive hub with an enabling

By Dipo Olowookere Transactions on the floor of the Nigerian Stock Exchange (NSE) closed on a positive note for the third straight session on Wednesday. This occurred as investors’ confidence on the Nigerian market gradually returns despite political drama in the country, especially with an impeachment threat given on Tuesday by the parliament to President Muhammadu Buhari over affairs of the nation. At the close of midweek trade, the equity market improved by 1.53 percent, while the Year-to-Date (YtD) returns ended at 0.50 percent, going back into the positive zone after it slipped into the danger territory last week. Business

Testosterone is a hormone that is often associated with male physical characteristics and behavior. However, research suggests that testosterone levels can also play a significant role in shaping workplace confidence and assertiveness, regardless of gender. Individuals with higher testosterone levels tend to exhibit more self-assurance and competitiveness, traits that can have a significant impact on career success. Thus, we will discuss all of its key advantages in this article. Improvement in One’s Mood Testosterone has been linked to improved mood in both men and women. Studies have found that individuals with higher levels of testosterone tend to report higher levels